FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Assets measured at fair value

	Fair Value Measurements Using						Assets at
(in thousands)	Level 1		Level 2		Level 3		fair
							value
June 30, 2016
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	10,015	$	—	$	10,015
Municipal bonds		—		20,949		—		20,949
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		38,641		—		38,641
Collateralized mortgage obligations:
U.S. Government agencies		—		1,740		—		1,740
Non-agency		—		4,312		—		4,312
SBA bonds		—		2,654		—		2,654
CRA mutual funds		—		788		—		788
Corporate bonds		—		997		—		997
Preferred stock		342		—		—		342
Securities available-for-sale	$	342	$	80,096	$	—	$	80,438
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans		—		—		13,743		13,743
Mortgage servicing rights		—		961		—		961
December 31, 2015
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,541	$	—	$	2,541
U.S. Government agency notes		—		498		—		498
Municipal bonds		—		30,385		—		30,385
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		32,202		—		32,202
Collateralized mortgage obligations:
U.S. Government agencies		—		2,014		—		2,014
Non-agency		—		4,948		—		4,948
SBA bonds		—		3,096		—		3,096
CRA mutual funds		—		764		—		764
Preferred stock		246		—		—		246
Securities available-for-sale	$	246	$	76,448	$	—	$	76,694
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans		—		—		15,211		15,211
Mortgage servicing rights		—		1,315				1,315

Carrying value and estimated fair values of financial instruments

(in thousands)	Carrying		Estimated		Fair value measurements using
	value		fair value		Level 1		Level 2		Level 3
June 30, 2016
Financial Assets
Cash and cash equivalents	$	31,498	$	31,498	$	31,498	$	—	$	—
Securities available-for-sale		80,438		80,438		342		80,096		—
Federal Home Loan Bank stock		3,436		3,436		—		3,436		—
Loans receivable, net		749,523		754,270		—		—		754,270
Accrued interest receivable		2,217		2,217		—		—		2,217
Cash surrender value of life insurance		13,862		13,862		13,862		—		—
Mortgage servicing rights		391		961		—		961		—
Financial Liabilities
Demand (non-interest-bearing)	$	189,182	$	189,182	$	—	$	—	$	189,182
Demand (interest-bearing)		120,142		120,142		—		—		120,142
Money market		197,869		197,869		—		—		197,869
Savings and other		124,019		124,019		—		—		124,019
Certificates of deposit		123,259		124,556		—		—		124,556
Deposits		754,471		755,768		—		—		755,768
Repurchase agreements		3,355		3,355		—		—		3,355
FHLBB advances		47,083		49,154		—		—		49,154
Subordinated debt		9,776		10,162		—		—		10,162
Note payable		358		385		—		—		385
Capital lease liability		420		903		—		—		903
Accrued interest payable		118		118		—		—		118
December 31, 2015
Financial Assets
Cash and cash equivalents	$	62,118	$	62,118	$	62,118	$	—	$	—
Securities available-for-sale		76,694		76,694		246		76,448		—
Federal Home Loan Bank stock		3,176		3,176		—		3,176		—
Loans held-for-sale		763		778		—		—		778
Loans receivable, net		699,018		707,154		—		—		707,154
Accrued interest receivable		2,307		2,307		—		—		2,307
Cash surrender value of life insurance		13,685		13,685		13,685		—		—
Mortgage servicing rights		597		1,383		—		1,383		—
Financial Liabilities
Demand (non-interest-bearing)	$	201,340	$	201,340	$	—	$	—	$	201,340
Demand (interest-bearing)		125,465		125,465		—		—		125,465
Money market		183,783		183,783		—		—		183,783
Savings and other		119,651		119,651		—		—		119,651
Certificates of deposit		124,294		125,437		—		—		125,437
Deposits		754,533		755,676		—		—		755,676
Repurchase agreements		3,914		3,914		—		—		3,914
FHLBB advances		26,979		28,559		—		—		28,559
Subordinated debt		9,764		9,764		—		—		9,764
Note payable		376		405		—		—		405
Capital lease liability		422		870		—		—		870
Accrued interest payable		150		150		—		—		150